We've witnessed an amazing crash in PM prices. Just when will this decline see a bottom. Hard to tell when so many common folks without much knowledge about what fundamentally drives PM prices jumped into the market via SLV and GLD. Seeing declines in the metals across the board, one can easily anticipate those ETF investors throwing up their hands and saying, "enough is enough". With those ETF experiencing accelerated sell orders and then forced to liquidate their metal holdings to cash out share holders, I become very discouraged regarding how far this drop in silver could go. Couple ETF selling with margin calls, one can only wait and hold their breath.
Or...one could start buying at these low prices. Or......one could sell some of their PM investments due to fear of further declines. But just remember! Fear and greed are the worst 2 emotions to base your investment decisions. But then again selling now to possibly buy back at lower levels makes sense. Who the heckfire knows what to do? I'm really having a bad day. LOL
Heck you are not the only one having a bad day. My portfolio is down $11,000 today. I did buy some more of exk though. Probably not the bottom though. Hopefully the market will go up 100 points tomorrow like so many other times after a good selloff. If not, this might be the start of a 10% correction. Hope not.
after hours silver hit a low of 22.50 and now back at 23.00 lol. dunno if there is anything to it. the boston marathon bombing didn't seem to have much effect on us in active trading, so doubt it's that.
just to update my above post it's now down to 22.30 ask in asian market trading. gold now at 1330 ask. so seems like another selloff but possible it makes a short term bottom in after hours tonight then reverses in time for premarket tomorrow.